Acquisition

Insight Foundation Property Tst Ltd
08 June 2005

8 June 2005



                   Insight Foundation Property Trust Limited
         Acquisition of Minerva House, an office property in London SE1


Insight Foundation Property Trust Limited ('the Company') announces that it has
today exchanged unconditional contracts to acquire a freehold office property
called Minerva House in London SE1 ('the property') at a price of approximately
£42.13 million.  The Company has implemented the acquisition quickly, with
exchange occurring less than 2 weeks from agreeing terms.

The high quality office property is in a strong location with an extensive
frontage to the River Thames, close to Southwark Cathedral and London Bridge.
The property is well let to ANZ Banking Group Limited and Reed Smith LLP and
currently produces approximately £2.76 million per annum reflecting a yield to
the Company of 6.3%.

The overall base rents are approximately £31 per sq ft, providing the potential
for the Company to benefit from rental growth and asset management
opportunities.


Completion is anticipated in July 2005, when a further announcement will be
made.


                                     -ENDS-



Enquiries:
Duncan Owen (Insight Investment Management)
Tel: [phone]


Paul Smith / Jeff Lanyon (RBSI)
Tel: [phone]


Stephanie Highett / Dido Laurimore (Financial Dynamics)
Tel: [phone]






                      This information is provided by RNS
            The company news service from the London Stock Exchange